Bloomberg News

Alcoa, Apollo, Dendreon, Exide, Greenbrier: U.S. Equity Movers

January 06, 2012

Jan. 6 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.

Alcoa Inc. (AA US) fell 2.1 percent, the biggest drop in the Dow Jones Industrial Average, to $9.16. The largest U.S. aluminum producer will close 12 percent of its global smelting capacity after the price of the lightweight metal slumped as global supply exceeds demand.

Apollo Group Inc. (APOL US) rose 5.4 percent to $56.64, the highest price since May 2010. The operator of the University of Phoenix and the biggest U.S. for-profit college reported fiscal first-quarter profit and sales that topped analysts’ estimates as more new students signed up for classes.

DeVry Inc. (DV US), a for-profit education company, rallied 6 percent to $41.40, the second-biggest gain in the Standard & Poor’s 500 Index.

Bank of America Corp. (BAC US) declined 2.1 percent to $6.18 for the second-biggest loss in the Dow. An Obama administration official who asked for anonymity denied speculation that the White House is considering a trillion- dollar plan to refinance home loans. The bank surged 8.6 percent yesterday amid speculation the U.S. may introduce a new mortgage refinancing program.

Best Buy Co. (BBY US) rose 3.3 percent, the most since Nov. 29, to $24.22. The world’s largest consumer-electronics retailer posted a same-store sales drop in December that was in line with analysts’ estimates and repeated its forecast for profit this year as it fought off challenges from Amazon.com Inc. and Wal- Mart Stores Inc.

Dendreon Corp. (DNDN US) had the biggest gain in the Russell 1000 Index, adding 16 percent to $12.35. The maker of the prostate-cancer drug Provenge increased for a second day on optimism sales of the company’s only product will increase after revenue more than tripled in the fourth quarter.

Durect Corp. (DRRX US) fell the most in the Russell 2000 Index, slumping 38 percent to 74 cents. The maker of drug- delivery systems said results from a clinical trial of Posidur, a post-surgery pain relief depot, didn’t reach statistical significance.

Exide Technologies (XIDE US) climbed 11 percent, the most since Nov. 30, to $3.13. The producer of lead-acid batteries was raised to “outperform” from “neutral” at Wedbush Securities.

Family Dollar Stores Inc. (FDO US) fell 7.5 percent, the most since January 2011, to $53.63. The discount retailer reported fiscal first-quarter revenue of $2.15 billion, missing the average analyst estimate of $2.17 billion. Comparable store sales increased 4.1 percent, compared with the average analyst estimate of 4.9 percent.

Greenbrier Cos. (GBX US) jumped 8.4 percent to $25.89, the highest price since May 31. The railcar producer reported first- quarter earnings of 48 cents a share, compared with a net loss of 11 cents a share a year earlier.

Integra LifeSciences Holdings Corp. (IART US) sank 20 percent, the most since March 1997, to $24.49. U.S. regulators cited the maker of orthopedic implants and skin-graft materials for burn victims for a problem with mold at it factory. The company also reported preliminary fourth-quarter revenue of $203 million at most, below the average analyst estimate of $213 million.

Jazz Pharmaceuticals Inc. (JAZZ US) gained 9.5 percent, the most since Aug. 23, to $45.39. The drugmaker said earnings in 2012 will be as much as $4.15 a share, compared with the average analyst estimate of $3.39. The forecast reflects earnings after the company completes the acquisition of Azur Pharma.

PriceSmart Inc. (PSMT US) dropped 14 percent, the most since December 2008, to $60.63. The owner of warehouse-shopping clubs reported first-quarter earnings that missed analysts’ estimates.

Regeneron Pharmaceuticals Inc. (REGN US) rose 8 percent to $65.79, the highest price since Oct. 10. The drugmaker was boosted to “buy” from “hold” at Jefferies Group Inc.

RF Micro Devices Inc. (RFMD US) sank 20 percent, the most since December 2008, to $4.54. The U.S. maker of chips and radio systems for mobile phones cut its forecast for fiscal third- quarter revenue to $225 million, compared with a previous estimate of $250 million. The company was cut to “market perform” from “outperform” at Oppenheimer & Co.

Saba Software Inc. (SABA US) rallied 16 percent, the most since April 2009, to $8.57. The maker of computer programs used by corporations to train employees named Elaine Kitagawa chief financial officer. Kitagawa previously served as CFO at Gaia Interactive, the company said.

Synta Pharmaceuticals Corp. (SNTA US) fell 15 percent, the most since January 2011, to $4.39. The drugmaker said it’s offering 7 million shares at $4.40 each.

United Community Banks Inc. (UCBI US) fell 10 percent, the most since Aug. 10, to $6.49. The regional bank, which has branches in Georgia and North Carolina, was lowered to “hold” from “buy” by equity analyst Kevin Fitzsimmons at Sandler O’Neill & Partners LP, with a 12-month price estimate of $7 a share.

--With assistance from Whitney Kisling, Ksenia Galouchko and Lu Wang in New York. Editors: Jeff Sutherland, Nick Baker

To contact the reporter on this story: Katia Porzecanski in New York at kporzecansk1@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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